Establishment of the Saudi Insurance Authority

The Saudi Council of Ministers has approved the establishment of an independent authority to regulate and supervise the insurance sector in the Kingdom.

Called Saudi Insurance Authority, the new entity will continue to carry out the missions of the Saudi Central Bank (SAMA) in developing the insurance sector and protecting the policyholders' interests.

This initiative represents an important step forward in building a strong and stable insurance market that contributes to achieving the goals of the "Saudi Vision 2030" development plan.